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With the Guarantee Fund assigned over 800 million to start-up loans

With the Guarantee Fund assigned over 800 million to start-up loans

With the Guarantee Fund assigned over 800 million to start-up loans

The support activity of the Guarantee Fund for SMEs continues successfully: as at 30 September 2018, 2,317 loans were made to innovative start-ups, for a total amount of € 819 million. Moreover, according to the data collected by the quarterly report of the MISE, 739 start-ups benefited from more than one loan, bringing the total to 3,941 transactions completed.

Business loans: get up to € 300,000

Business loans: get up to € 300,000

Each start-up has obtained, on average, bank credit for 353 thousand euros. The Guarantee Fund for SMEs is a public fund that facilitates access to credit by granting guarantees on bank loans. These guarantees cover up to 80% of the loan granted, for a maximum of 2.5 million euros, and are granted free of charge. Innovative startups and certified incubators enjoy simplified and direct access to the fund.

Currently the loans already fully repaid by the start-ups make up 12.5% ​​of the total: for these loans, therefore, it was not necessary to request the activation of the guarantee. For the rest, 62.9% of the transactions result in regular amortization (ie the repayment is proceeding smoothly), while only 3.4% are unable to repay the loan, probably because of an economic difficulty. However, this is a much lower percentage than that recorded (7.4%) for the other newly formed joint-stock companies.

The picture is completed by 17.7% of lines of credit not almost completed due to the negative opinion of the bank, or for renunciation by the company, and 3.5% of requests yet to be completed.

The average duration of start-up loans disbursed through the fund is 55.3 months, while the most common, recorded in 38% of cases, is 60 months, in line with the average value for the entire population. But there is no shortage of very short credit lines (just three months) or very long conversely (240 months, or 20 years). However, there is a considerable share of short-term loans, that is, lasting no more than 18 months, 24.6%.

Finally, as regards the geographical references, the major requests for access to the Guarantee Fund for SMEs come from the central-northern regions: in the lead is Lombardy, followed by Emilia-Romagna, Veneto and Piedmont. In contrast, Puglia, Sardinia, Calabria, Basilicata and Molise occupy five of the last six positions.

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